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the fiscal cliff not the only thing that congress is dealing with. fox news learned the house plans to split the superstorm sandy aide bill to two parts. giving the lawmakers opposed to a large bill the ability to vote against it and vote on the other part so they don't appear unwilling to help storm victims. the base would provide immediate funding to those affected by the october storm that devastated new york and new jersey coastlines. meanwhile, republicans are still meeting up on capitol hill. we have a live camera outside of that meeting. they are, the camera just shooting in and out there. they are meeting and those are the microphones they may come and talk to reporters after they finish that conference meeting. we are just getting word of something that perhaps is happening behind those doors. senior g.o.p. leadership aide is telling fox that the speaker presented his members two options. the first would be to make an amendment to the senate bill that would add a package of spending cuts. the whip, majority whip would do a whip check, vote c
the fiscal cliff not the only thing that congress is dealing with. fox news learned the house plans to split the superstorm sandy aide bill to two parts. giving the lawmakers opposed to a large bill the ability to vote against it and vote on the other part so they don't appear unwilling to help storm victims. the base would provide immediate funding to those affected by the october storm that devastated new york and new jersey coastlines. meanwhile, republicans are still meeting up on capitol...
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cliff. good evening. i'm richard lui. you're watching the standoff in washington, d.c. the house gop is meeting at this hour for the second time today. leadership and members are discussing how to move forward on a bill they say need to include spending cuts. house speaker john boehner and eric cantor arrived at the meeting together. but it was cantor who set off the storm earlier today just hours ago by announcing he could not support the senate bill that was approved this morning at 2:00 a.m. house democratic leader nancy pelosi attempted to put pressure on tonight. she posted this on twitter saying quote, strong majority of house democrats support the bipartisan senate bill that passed 89-8. confident it will pass and speaker boehner allows an up or down vote. and republicans like congressman jack kingston of georgia blame the senate for a hastily written bill. >> it was way past those senators' bedtime. they were blurry eyed when they were reading it. we're trying to fill in the gap wher
cliff. good evening. i'm richard lui. you're watching the standoff in washington, d.c. the house gop is meeting at this hour for the second time today. leadership and members are discussing how to move forward on a bill they say need to include spending cuts. house speaker john boehner and eric cantor arrived at the meeting together. but it was cantor who set off the storm earlier today just hours ago by announcing he could not support the senate bill that was approved this morning at 2:00 a.m....
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we want to go back to your calls, i hear your voice is on what is going on with the fiscal cliff. our next call is from esther in harrison, arkansas. democrat. caller: i do not know about this worry and concern. it seems like the congressmen and senators, they just want their way and yet the republicans do not seem to have learned the country spoke when they reelected obama. they are still trying to fight for what they want themselves. i wonder what this country's going to come to in the next election. i am worried about the democrat and republican party. we do not know what the changes would be. another thing is the billions of dollars they are spending overseas trying to fight the war over there. they are financing billions, i believe to understood, it is that expensive. lives are being lost. i know it sounds reasonable to some people. you take people that do not care to die, like a lot of those suicide bombers, you cannot get rid of all of the terrorists. they are a country that is mixed up. i am concerned for the world. poor people do not seem to get a chance. the wealthy need
we want to go back to your calls, i hear your voice is on what is going on with the fiscal cliff. our next call is from esther in harrison, arkansas. democrat. caller: i do not know about this worry and concern. it seems like the congressmen and senators, they just want their way and yet the republicans do not seem to have learned the country spoke when they reelected obama. they are still trying to fight for what they want themselves. i wonder what this country's going to come to in the next...
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cliff into flux because, as we have been discussing, a brand new congress is sworn in on thursday. the senate has said they're not likely to take up anything the house does to begin with and if the new congress is sworn in, the legislative slate is wiped clean and we start over. and there is mayhem and chaos surrounding markets and anger, if there can be any more anger and frustration toward washington because people's paychecks will be checked at a higher rate. let's review what's happened in the last ten days. john boehner and eric cantor put their plan "b" on a friday on the floor 69 house of representatives. it set the income threshold at $1 million over which you would be taxed at a higher rate. they wanted to do that because you simply can't beat something with nothing. they wanted to have something to send over to the senate to negotiate with in addition to what they had sent over last summer which was pretty much a nonstarter that they had recognized. that crashed and burned and went down in flames at which point john boehner said, look, it's up to the senate. they can nego
cliff into flux because, as we have been discussing, a brand new congress is sworn in on thursday. the senate has said they're not likely to take up anything the house does to begin with and if the new congress is sworn in, the legislative slate is wiped clean and we start over. and there is mayhem and chaos surrounding markets and anger, if there can be any more anger and frustration toward washington because people's paychecks will be checked at a higher rate. let's review what's happened in...
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if it passes, it goes to the president for his signature, the fiscal cliff being averted. on the other hand, will they go ahead and try to pass some spending cut amendments, which would disrupt this entire process and maybe kill it in this current congress. tax increases would go forward for millions and millions of americans. we're watching what's happening in the congress right now. world financial markets are watching very closely as well. they'll soon start reopening after the new year holiday, beginning shortly in asia, later overnight in europe, followed by wall street in the mourning. let's go to our chief business correspondent, ali velshi in new york. ali, what will make investors take a look at this fiscal cliff uncertainty and decide to buy or sell? what's going to happen? >> well, they're really going to wait for the same thing we're waiting for. and that is some srcertainty. so at this point, as you've been reporting so well for a few hours, we don't know whether the house is going to vote or whether america is really going over the fiscal cliff for a few days
if it passes, it goes to the president for his signature, the fiscal cliff being averted. on the other hand, will they go ahead and try to pass some spending cut amendments, which would disrupt this entire process and maybe kill it in this current congress. tax increases would go forward for millions and millions of americans. we're watching what's happening in the congress right now. world financial markets are watching very closely as well. they'll soon start reopening after the new year...
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we're talking about congress and the fiscal cliff negotiations. caller: i am a retired police officer. i'm disabled. i cannot work. i have had my pension frozen since -- my cola frozen. i'm just asking my fellow citizens to step up and share the wealth with me. that's all. host: how would you like to see that happen? caller: there is going back to be some taxes on the people who have more money. the cola that is frozen for me every year is costing me money. it's not a tax, but i am saving taxpayer's mind that way. my health insurance goes up and every year i get less and less money. host: at noon when the house came into session, a lot of the members of congress made what they call 1-minute speeches were you can talk for whatever topic you want for up to 60 seconds and obviously the fiscal cliff with the main topic of the one- minute speeches today. retiring members dennis kucinich and rep ted poe from texas. [video clip] this confines us to a maximum unemployment, threats to the social safety net, a deteriorated structure, a psychology of poverty
we're talking about congress and the fiscal cliff negotiations. caller: i am a retired police officer. i'm disabled. i cannot work. i have had my pension frozen since -- my cola frozen. i'm just asking my fellow citizens to step up and share the wealth with me. that's all. host: how would you like to see that happen? caller: there is going back to be some taxes on the people who have more money. the cola that is frozen for me every year is costing me money. it's not a tax, but i am saving...
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this year it's the fiscal cliff. and it just seems like they can't get their act together year after year. it's frustrating to sit here and, you know, watch it happen over and over again. especially we're all students so it affects us a lot. it's really frustrating. >> julie, do you see yourself maybe changing your mind about who you necessary pily vote for the next election based on how members of congress handled the situation? >> actually no. i feel a lot of this has come from the partisanship which is creating the gridlock. i think the far right of the republican party's holding congress hostage to a point. mitch mcconnell says he wants to strike a deal. think about it, history states they've been the party of no. he said from the beginning if obama wants it, why are we going to do it? at the end of the day congress can sit around but these directly affect us. as students, think about the division tax breaks, things will go away and affect my family. within i look at congress, i see it's shifted to one side. i do
this year it's the fiscal cliff. and it just seems like they can't get their act together year after year. it's frustrating to sit here and, you know, watch it happen over and over again. especially we're all students so it affects us a lot. it's really frustrating. >> julie, do you see yourself maybe changing your mind about who you necessary pily vote for the next election based on how members of congress handled the situation? >> actually no. i feel a lot of this has come from...
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. >>> if the house manages to pass the senate bill on avoiding the fiscal cliff and that remains a big if it will represent just the tip of the iceberg when it comes to the economic challenges facing the president and congress over the next several years. rick newman is chief business correspondent for u.s. news and world report and the author of "rebounders." how winners pivot back to success. welcome. thank you for joining me. >> hi, mara. >> before we get to the battles ahead who is the rebounder in the senate deal? >> well, mitch mcconnell looks pretty good. this is the guy who said his main objective prior to 2012 was getting president obama unelected. that didn't happen obviously. he just looked like an obstructionist. now he is playing a productive role getting some things done for the nation. >> now, it looks like in this deal the senate bill punts a lot of things down the road and we could see a debt ceiling debate in the near future. >> yes. >> how can we avoid the kind of brinksmanship we've just seen in the issues we've got moving forward? >> i'm not sure we can avoid it. t
. >>> if the house manages to pass the senate bill on avoiding the fiscal cliff and that remains a big if it will represent just the tip of the iceberg when it comes to the economic challenges facing the president and congress over the next several years. rick newman is chief business correspondent for u.s. news and world report and the author of "rebounders." how winners pivot back to success. welcome. thank you for joining me. >> hi, mara. >> before we get to...
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. >> jill, if this fiscal cliff bill does get done is the new congress going to be more or less likely to work with the president on his second term agenda? >> well, the president is going to have more senators to work with, 55 as opposed to 53. that doesn't mean he'll have an easy time of it because republicans can block anything they want in the senate. it depends on what lessons if any republicans took from the election. i do think that the principle gap is very deep and so i'm not sure that we're going to see a kumbaya situation. but as i say, there are some advantages for republicans in making some compromises if they will see it that way. and particularly the demographic challenges. so, you know, ultimately i think the one thing to do is keep -- be realistic about the timetable. i'm not sure the president is going to get everything done that he wants to in 2013 but i would bet on immigration reform. maybe that's crazy and you'll have me back here and i'll have to say no i was wrong. i do think it's so much in republicans' self-interest. they've got some really good spokesmen on t
. >> jill, if this fiscal cliff bill does get done is the new congress going to be more or less likely to work with the president on his second term agenda? >> well, the president is going to have more senators to work with, 55 as opposed to 53. that doesn't mean he'll have an easy time of it because republicans can block anything they want in the senate. it depends on what lessons if any republicans took from the election. i do think that the principle gap is very deep and so i'm...
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and decide unilaterally at the height of the fiscal cliff debate that he would throw a new wrench into that argument and it would be this. when there is massive uncertainty, unfinished business, he would decide that he would unilaterally give a pay increase to the united states congress exactly when the public is uncertain and doesn't know what's going to happen. will their taxes go up? will they no longer be a recipient of a spending program? and now congress is going to get a spending increase? this was a cynical planned move, mr. speaker, on the part of our president. he brought great drama to this effort, unnecessary drama, because you see, this house of representatives already did the job to avert the fiscal cliff. we did this work. it was completed last august. . we were able to offset any spending cuts. the work was done. the problem is the senate never took up the completed work of the house. and the president of the united states spent the last half of this year continually castigating the house of representatives for not having its work done. when we did our work. so out of n
and decide unilaterally at the height of the fiscal cliff debate that he would throw a new wrench into that argument and it would be this. when there is massive uncertainty, unfinished business, he would decide that he would unilaterally give a pay increase to the united states congress exactly when the public is uncertain and doesn't know what's going to happen. will their taxes go up? will they no longer be a recipient of a spending program? and now congress is going to get a spending...
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rick: just hours before the deal to avote the fiscal cliff, another financial crisis emerged right? treasury secretary tim geithner telling congress that the u.s. just reached its $16.4 trillion borrowing limit. he says the government is now employing, quote, extraordinary measures in order to avoid default, no word how lawmakers will resolve huge differences raising debt limit, the debt ceiling but it could be just a matter of weeks before the government defaults. heather: the supreme court's chief justice weighing in on the country's physical problems. saying the judicial branch gets a minuscule fraction of the nation's trillion dollar budget. it has already done its part when it comes to cost cutting. he is calling on the white house and congress to give enough funding to insure the federal judiciary can do its job. saying this. a significant and prolonged short fall in judicial funding would inevitably result in the delay or denial of justice for the people the courts serve. i therefore encourage the president and congress to be especially attentive to the needs of the judicial
rick: just hours before the deal to avote the fiscal cliff, another financial crisis emerged right? treasury secretary tim geithner telling congress that the u.s. just reached its $16.4 trillion borrowing limit. he says the government is now employing, quote, extraordinary measures in order to avoid default, no word how lawmakers will resolve huge differences raising debt limit, the debt ceiling but it could be just a matter of weeks before the government defaults. heather: the supreme court's...
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>> well, this was a unique situation because we did have the fiscal cliff and we had a lame duck congress. what i think we have to start trying to do is return to what's called around here regular order. there really is no such thing in this congress. but what that means is that the committees actually consider the bills. and the thing that is really the challenge for us is to get republicans and democrats to be working on these committees, talking about the different issues and trying to come up with some compromises. right now, it's just an all-or-nothing proposition, and the republicans have the majority in the house and it's their way or the highway. the senate filibuster is a big impediment. and in the old days that people speak about with some respect, republicans and democrats had meaningful interactions all along the way, so in the end it wasn't just this cliff deal. >> isn't it interesting that two 70-year-olds who have been around for decades were the ones to at least finally get the quick fix done. but the president said the other day he felt a broader agreement could be reache
>> well, this was a unique situation because we did have the fiscal cliff and we had a lame duck congress. what i think we have to start trying to do is return to what's called around here regular order. there really is no such thing in this congress. but what that means is that the committees actually consider the bills. and the thing that is really the challenge for us is to get republicans and democrats to be working on these committees, talking about the different issues and trying to...
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despite europe and despite the fiscal cliff, markets did okay. markets around the world are closed for new year's day which is why congress has itself today to get this done, otherwise you'd see some reaction. >> you can only be over the cliff when the markets are closed and have a little bit of breathing space. >> markets open about 12 hours from now. cnn's richard quest joins from us london. poor richard, you've had to deal with all of the stuff in europe for the last two years and then this. you have remarkable world experience as how the worlds investors who tend to be enforcers of politics sometimes will respond to this deal and i know you've been studying the deal all morning. >> i have, well as much as anybody can on the first day of a new year. if you look at what europe has been through in 2012, the european stability mechanism, the banking union debacle, the third bailout for greece, constantly with the fiscal comeback, you see similarities between what happened in europe and what now the united states has just been through and is going
despite europe and despite the fiscal cliff, markets did okay. markets around the world are closed for new year's day which is why congress has itself today to get this done, otherwise you'd see some reaction. >> you can only be over the cliff when the markets are closed and have a little bit of breathing space. >> markets open about 12 hours from now. cnn's richard quest joins from us london. poor richard, you've had to deal with all of the stuff in europe for the last two years...
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even though the country fell off the bat -- the fiscal cliff, all reports are that congress can retroactively prevent the tax hikes set to begin today. it has one more day to prevent automatic spending cuts that take in on wednesday. our coverage of this class continues this morning on "washington journal." if you want all along, go to c- span.org/fiscalcliff. we will begin with your take on this emerging deal. democrats -- republican -- independents -- remember to send us a twit -- a tweet at twitter.com. facebook.com/c-span. or at c-span.org. the senate voted around 2:00 a.m. eastern time. here are the senators that voted no. michael bennet, democrat of colorado, along with senator tom carper, democrat of delaware, senators grassley, harkin, as well as these four republicans, senators lee, paul, rubio, and shelby. not a boating were senators jim demint, the republican of south carolina. he is retiring. senators kirk and lautenberg as well. here was the reaction from all four house republican leaders. it put this out in a joint statement. here is what they had to say -- the house will honor
even though the country fell off the bat -- the fiscal cliff, all reports are that congress can retroactively prevent the tax hikes set to begin today. it has one more day to prevent automatic spending cuts that take in on wednesday. our coverage of this class continues this morning on "washington journal." if you want all along, go to c- span.org/fiscalcliff. we will begin with your take on this emerging deal. democrats -- republican -- independents -- remember to send us a twit -- a...
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an early morning deal reached on the fiscal cliff. the u.s. still poised to go over that cliff. >> and as it is sun rises on 2013, we are still waiting for the house to act. that, by the way is not congress. we'll walk you through the bill's details and tell you the impact it will have on you. >>> all right. members of congress never that pretty. >>> secretary of state clinton waking up in a new york city hospital. making excellent progress. we'll have the latest on her condition. >> welcome to "early start." i am ali velshi. >> i am christine romans. >> and quite a lot to talk about. through this morning, the senate passed a plan to fend off the fiscal cliff. but now it's up to the house of representatives to follow suit. just after 2:00 eastern time this morning, the senate overwhelmingly passed a plan that was crafted by the vice president and the senate minority leader, mitch mcconnell. vote? 89-8. the republican controlled house left well before midnight last night, so they will are to take up the measure today. >> i said all along, the m
an early morning deal reached on the fiscal cliff. the u.s. still poised to go over that cliff. >> and as it is sun rises on 2013, we are still waiting for the house to act. that, by the way is not congress. we'll walk you through the bill's details and tell you the impact it will have on you. >>> all right. members of congress never that pretty. >>> secretary of state clinton waking up in a new york city hospital. making excellent progress. we'll have the latest on her...
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the real fiscal cliff beneath our feet is the $16 trillion in debt that's going to continue to go higher and higher and the lost opportunities. this country is nowhere near living up to its greatness that we possess. nowhere near it. >> steve: let's see. we're just starting a new year. we can be optimistic burks -- but relickicly? >> it could have been worse. >> juliet: thank you, charles. happy new year. >> brian: that could be the cover of anthony robins you -- new book. >> juliet: still ahead, have you made a new year's resolution, chances are you did. father john shows us how faith can help you keep it. >> steve: how about dinner and drinks wednesday night with the girls? forget it. we'll tell you who is pulling the plug on ladies night. oh, oh ♪ fare thee well ♪ farewell ♪ mr. gloom be on your way ♪ ♪ though you haven't any money you can still be bright and sunny ♪ ♪ sing polly wolly doodle all the day ♪ ♪ hah >> steve: we got quick headlines for you on this new year morning. sea sick, over 200 people have gotten sick on this cruise ship in the caribbean. federal h
the real fiscal cliff beneath our feet is the $16 trillion in debt that's going to continue to go higher and higher and the lost opportunities. this country is nowhere near living up to its greatness that we possess. nowhere near it. >> steve: let's see. we're just starting a new year. we can be optimistic burks -- but relickicly? >> it could have been worse. >> juliet: thank you, charles. happy new year. >> brian: that could be the cover of anthony robins you -- new...
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in the new year sounds like the fiscal cliff all over again, right? that's because it is. >>> the markets are closed today for new year's but on monday wall street ended 2012 on a very high note. the dow jumped 166 points, finished the year up 7%. nasdaq really the leader here of 59 points yesterday. closed 201215% -- 2012 15% higher. >>> the health of the economy could influence whether a child picks up unhealthy habits. scientists found children who grew up during times of unemployment rates were high, were more likely to drink, smoke and use marijuana in their teens. doctors considered the study with kids born during recessions recessions. what they're finding is during recession, domestic abuse rises so a child growing up in a domestic abuse environment turns to drugs and alcohol. >> you wander if they had the same pattern in the '30s and '80s when we had other recessions whether we see this trend. >> this study looks directly at the 1980s and the recession of that times and the kids that came out of it. it's a small increase in drug use but it ju
in the new year sounds like the fiscal cliff all over again, right? that's because it is. >>> the markets are closed today for new year's but on monday wall street ended 2012 on a very high note. the dow jumped 166 points, finished the year up 7%. nasdaq really the leader here of 59 points yesterday. closed 201215% -- 2012 15% higher. >>> the health of the economy could influence whether a child picks up unhealthy habits. scientists found children who grew up during times of...
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. >> congress still missed the deadline to avoid the fiscal cliff. we'll have the latest on negotiations in a moment. but first, a look at some of the other stories we're following for you on this new year's day. hillary clinton spending today in the hospital, as we're learning more about her condition. and doctors revealed just how dangerous that blood clot could have been. you won't believe where the clot was located. >>> also this morning, new year's eve celebrations in new york and around the world as millions ring in 2013 with music and cheers. >> as 2013 begins, so does a long list of new laws. since you need to know, we're going to tell you where you can no longer let pigs loose or sell a shark fin. some of those unusual -- >> about here in the studio? i thought they banned that years ago. >> figuratively. >> we have in fact gone over the fiscal cliff. but lawmakers are working through the night on a deal to cancel the tax increases and spending cuts before they take effect. >> top republican leaders in the house say they'll vote on the agreem
. >> congress still missed the deadline to avoid the fiscal cliff. we'll have the latest on negotiations in a moment. but first, a look at some of the other stories we're following for you on this new year's day. hillary clinton spending today in the hospital, as we're learning more about her condition. and doctors revealed just how dangerous that blood clot could have been. you won't believe where the clot was located. >>> also this morning, new year's eve celebrations in new...
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congress, not much. >> zero. >> but can they avoid the fiscal cliff? senator gop john ba roost sew joins us later. no matter what deal congress strike the capital-gains tax, it shoots up next year. we'll tell you what investors can do to say in the game. more mony coming up less than seven hours until the new year and nothing rippings in the new year better than the government raising your taxes right? the capital-gains tax inease will be 20% from the current 15 some argue that would generate more money from unsell cam. my -- uncle sam. my next guest has a long list of reasons that this would hurt the economy. he is the from the cato institute and head of downsizing dost government.org. thank you for joining us on this holiday. >> thank you. adam: why won't it raise more money if we raise the capital-gains tax? why won't it raise t money for treasury. >> capital very mobile. we live in a globalized economy. if the united states raises its taxes on capital, in other words, investment, investment will flee across international borders. countries that hav
congress, not much. >> zero. >> but can they avoid the fiscal cliff? senator gop john ba roost sew joins us later. no matter what deal congress strike the capital-gains tax, it shoots up next year. we'll tell you what investors can do to say in the game. more mony coming up less than seven hours until the new year and nothing rippings in the new year better than the government raising your taxes right? the capital-gains tax inease will be 20% from the current 15 some argue that...
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cliff, individuals will see taxes go up by $2,000, there is a lot of pressure on congress and white house to take action. that pleasure is playing a huge role. >> kristen welker and kelly o'donnell, thank you, both. we continue our breaking coverage of fiscal cliff talks and what appears to he about a last-minute break through when we come back. please stay with us. ♪ [ male announcer ] why do more emergency workers everywhere trust duracell...?? duralock power preserve. locks in power for up to 10 years in storage. now...guaranteed. duracell with duralock. trusted everywhere. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. [ ship horn blows ] no, no, no! stop! humans. one day we're coming up with the theory o
cliff, individuals will see taxes go up by $2,000, there is a lot of pressure on congress and white house to take action. that pleasure is playing a huge role. >> kristen welker and kelly o'donnell, thank you, both. we continue our breaking coverage of fiscal cliff talks and what appears to he about a last-minute break through when we come back. please stay with us. ♪ [ male announcer ] why do more emergency workers everywhere trust duracell...?? duralock power preserve. locks in power...
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they areon the ones who have to steer us away from the fiscal cliff. joining us tonight, governor jo jo mike hi hi ♪(whistling tune) ♪("don't worry be happy") we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilolosec c and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur where teams compete to make the right decision about safe food preparation. our challenge in this round -- oven or microwave? to win, teams must choose the prop steps for safe meal preparation, read and follow package cooking instructions, and know when to use the conventional oven or the microwave. you're on the clock, so make your decisions quickly, but be warned -- make the wrong choice, and your meal will be unsafe! sorry, team 2, an unwise choice. check the cooking instructions on that package you've ripped open so quickly. dude, what? microwaves and conventional ovens both have a purpose. your challenge
they areon the ones who have to steer us away from the fiscal cliff. joining us tonight, governor jo jo mike hi hi ♪(whistling tune) ♪("don't worry be happy") we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilolosec c and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur where teams compete to make the right...
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we are an hour a half away from the final fiscal cliff deadline that congress will now miss. we have not seen a piece of legislation on o the floor yet and we may still as we continue to monitor all things up and capitol hill. we have you covered. we also have you covered up at times square with ma megyn kely and bill hemmer up at times square. they are having more fun. keep it right here on fox. ♪ [ male announcer ] the way it moves. the way it cleans. everything about the oral-b power brush is simply revolutionary. oral-b power brushes oscillate, rotate and even pulsate to gently loosen and break up that sticky plaque with more brush movements than manual brushes and even up to 50% more than leading sonic technology brushes for a superior clean. oral-b power brushes. go to oralb.com for the latest offers. >> with hotwire's low prices, i can afford to visit chicago for my first big race and l.a. for my best friend's wedding. because when hotels have unsold rooms, they use hotwire so i got my hotels for half-price! >> men: ♪ h-o-t-w-i-r-e ♪ hotwire.com looking live. tim
we are an hour a half away from the final fiscal cliff deadline that congress will now miss. we have not seen a piece of legislation on o the floor yet and we may still as we continue to monitor all things up and capitol hill. we have you covered. we also have you covered up at times square with ma megyn kely and bill hemmer up at times square. they are having more fun. keep it right here on fox. ♪ [ male announcer ] the way it moves. the way it cleans. everything about the oral-b power brush...
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gerri: we have been saying, congress will not need the midnight deadline to avert the fiscal cliff. congress will not. the negotiations continue into tomorrow. let's bring in a congressman who will be critical to the process. republican of wisconsin, a member of the house budget cmittee. welcome back to the show. great to see you here. first, breaking news detail i want to get your reaction to. we just heard the vice-president will meet with senate democrats tonight. what do you think that's abou? >> i'm not exactly sure. unless they're having some type of problem with e spending side of the equation, i never have reached some type of agreement on taxes, but know that makes mcconnell was working with vice-presidentbiden on the spending side. and so there may be some person that has to go on the senate democrats to get the bill passed gerri: arm-twisting everywhere. let's talk about this potential deal as it has been outlined to us. we would have tax hikes on folks with incomes above 400,000 if your single, above water and 50,000 if you're a cople. permanent patch to anc, the alterna
gerri: we have been saying, congress will not need the midnight deadline to avert the fiscal cliff. congress will not. the negotiations continue into tomorrow. let's bring in a congressman who will be critical to the process. republican of wisconsin, a member of the house budget cmittee. welcome back to the show. great to see you here. first, breaking news detail i want to get your reaction to. we just heard the vice-president will meet with senate democrats tonight. what do you think that's...
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with just hours to go a deal emerges to avert the fiscal cliff, but can congress pass the measure in time? president obama says they can, we've got the latest from washington, on what could happen before the new year's day deadline. and wall street ends the year with a rally and healthy gains. s&p strategist sam stovall joins us with where he sees stocks headed in 2013. that and more tonight on "n.b.r."! washington lawmakers are getting close to a fiscal cliff deal, but they might not get it done before the midnight deadline tonight. the senate could vote in time, but it's possible the house will wait until tuesday. that means the u.s. could go over the fiscal cliff.
with just hours to go a deal emerges to avert the fiscal cliff, but can congress pass the measure in time? president obama says they can, we've got the latest from washington, on what could happen before the new year's day deadline. and wall street ends the year with a rally and healthy gains. s&p strategist sam stovall joins us with where he sees stocks headed in 2013. that and more tonight on "n.b.r."! washington lawmakers are getting close to a fiscal cliff deal, but they might...
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cliff. a deal in the senate. however, there are still some questions about senate democrats which is why vice president biden s now and capitol hill we are told by sources to essentially get some of the liberal democrats to sign on to the deal avoiding the fiscal cliff. as you look live at the capitol dome, the light on top of the dome is lit because the congress s in session. but we haven't seen the piece of legislation move forward, the specifics. as you look live, vice president biden walked into the democratic caucus meeting there just beyond where the reporters are standing there by the microphones and said happy new year, happy new year, isn't it great that you all are here tonight. so what about this deal that is shaping up? the house will not be taking it up tonight. they have adjourned for the night and they will reconvene in 2013. actually you noon tomorrow the house will come back. essentially the u.s. will go over the fiscal cliff. but what about this deal that is shaping up and
cliff. a deal in the senate. however, there are still some questions about senate democrats which is why vice president biden s now and capitol hill we are told by sources to essentially get some of the liberal democrats to sign on to the deal avoiding the fiscal cliff. as you look live at the capitol dome, the light on top of the dome is lit because the congress s in session. but we haven't seen the piece of legislation move forward, the specifics. as you look live, vice president biden walked...
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president, wit >> the white house and congress have failed to reach an agreement on the fiscal cliff before the midnight deadline. tomorrow we look at the latest on where the country stands on tax hikes and spending cuts. then at 8:30, charlie hurt of the washington times joins us. "washington journal, each morning at 7:00 a.m. eastern. >> a lot of people looking back that i know, looking back on the last four years, will say the space program has been a jobs program. how many jobs can you get in your district and your state? it passed by one vote because it was passed all around the country. i can tell you some pretty brutal stories about the politics involved in the space program. it is bring home the bacon, and the bacon is jobs. votes keep a congressman or senator in office. >> tuesday night, apollo astronaut buzz out -- balls aldrin on the future of space exploration -- buzz aldrin. tuesday night on c-span. >> next, a debate on emerging economies around the world in 2013, including india, brazil, and china. we will hear from the author of "winner-take-all" on what it means for t
president, wit >> the white house and congress have failed to reach an agreement on the fiscal cliff before the midnight deadline. tomorrow we look at the latest on where the country stands on tax hikes and spending cuts. then at 8:30, charlie hurt of the washington times joins us. "washington journal, each morning at 7:00 a.m. eastern. >> a lot of people looking back that i know, looking back on the last four years, will say the space program has been a jobs program. how many...
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a deal to avoid the fiscal cliff. we'll hear from some of them when we come back. stay with us. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ >>> all right, this holiday season, most americans are not feeling all that much good will toward congress. mary snow has just some of the outrage over the fiscal cliff. >> boutique owner debra pays less attention to designers th
a deal to avoid the fiscal cliff. we'll hear from some of them when we come back. stay with us. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just...
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good evening, i'm cheryl jenning autos so we're going over the fiscal cliff. kregs leaders say they're going to save us from disaster. everyone wants to know will we ring in the new year with more taxes? >> well, we will. and this for a while, anyway. the bush era tax cuts will expire at the strofk midnight. by tomorrow it's expect there'd will be a deal to vote on this, afternoon, the president called supporters to the white house to say an agreement to extend the cuts for middle class is very close. >> preventing that tax hike has been my top priority. last thing folks like folks up here on the stage can afford right is to pay an extrao;ye6) 2,000s ndz taxes next year. >> vice president and hsh mitch mcconnell have been leading on negotiations to extend the increasest qlait tax rate from 35% to 40% and extend unemployment benefits one year. >> we need to pro teblgt american families and job creators from this looming tax hike. everyone agrees that that action is necessary. and i can report we've reached an agreement on tax issues. >> sticking point has bee
good evening, i'm cheryl jenning autos so we're going over the fiscal cliff. kregs leaders say they're going to save us from disaster. everyone wants to know will we ring in the new year with more taxes? >> well, we will. and this for a while, anyway. the bush era tax cuts will expire at the strofk midnight. by tomorrow it's expect there'd will be a deal to vote on this, afternoon, the president called supporters to the white house to say an agreement to extend the cuts for middle class...
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they areon the ones who haveto steer us away from the fiscal cliff. joining us tonight, governor jo mike when some people struggle with their mortgage payments, they become frozen, petrified. not knowing what to do, they do nothing, but the people who do something, the people who take action, are far more likely to get the most positive outcome. making home affordable is a free government program. call now to talk one on one with a housing expert about the options that are right for you. reahelp, real answers right now. >> thank you. glad to be year. lou: congratulations on the new book. >> at tweeted something other than politics for a while. i'm sick of it. what we have? this same -- it's like the song by the who. meet the new boston the same as the old boss. lou: kaj cling to those politics so desperately i want to go to our first reaction, the fact that the viejo is supposed to be the smartest man the military when he was there turns out to be headed the cia the dumbest by we ever had., the mbes >> not a good week. when you add to the drama with g
they areon the ones who haveto steer us away from the fiscal cliff. joining us tonight, governor jo mike when some people struggle with their mortgage payments, they become frozen, petrified. not knowing what to do, they do nothing, but the people who do something, the people who take action, are far more likely to get the most positive outcome. making home affordable is a free government program. call now to talk one on one with a housing expert about the options that are right for you....
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lawmakers are close to locking in a hard fought deal to avoid the fiscal cliff. but there are still some major sticking points, especially over spending and house leaders say they won't vote tonight. still the headline tonight is that the two sides seem to have agreed on how best to address the bus era tax cuts. randall pinkston now with the very latest. >> the senate is close to a deal, as the clock ticks toward midnight and the nation teeters on the edge of the so-called fiscal cliff. >> passed the tax relief portion. now let's take what's been agreed to and get moving. >> reporter: the tentative deal
lawmakers are close to locking in a hard fought deal to avoid the fiscal cliff. but there are still some major sticking points, especially over spending and house leaders say they won't vote tonight. still the headline tonight is that the two sides seem to have agreed on how best to address the bus era tax cuts. randall pinkston now with the very latest. >> the senate is close to a deal, as the clock ticks toward midnight and the nation teeters on the edge of the so-called fiscal cliff....
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congress has run out the clock. there is no more time. we are of the fiscal cliff. tonight we will all begin the larger set of tax increases in american history. that is new year's to you from our elected officials. did i also mentioned you are getting a pay raise in the new year as well. all this could have been avoided if congress got its act together, but the doomsday option hit and the president set in motion. there is a chance of some sort of deal, but we have to wait until the new year. let's go directly to washington senior washington correspondent, peter barnes, with details of negotiations. >> reporter: still some pieces being negotiated tonight, particularly on the sequestration, those automatic spending cuts that are supposed to take effect on january 2nd. about $100 billion. about half of that on the past -- defense department. still trying to work through the details of some democratic and republican side. it's unclear if there will actually get to a vote in the senate on that tonight, but they could if they work something out. otherwise we have the fra
congress has run out the clock. there is no more time. we are of the fiscal cliff. tonight we will all begin the larger set of tax increases in american history. that is new year's to you from our elected officials. did i also mentioned you are getting a pay raise in the new year as well. all this could have been avoided if congress got its act together, but the doomsday option hit and the president set in motion. there is a chance of some sort of deal, but we have to wait until the new year....
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going over the fiscal cliff. meanwhile, the president talked about it today. >> democrats and republicans in congress have to get this done. but they are not there yet. they are close. but they're not there yet. and one thing we can count on with respect to this congress is that if there is even one second left before you have to do what you are supposed to do, they will use that second. >> we will continue to work on finding smarter ways to cut spending but let's not let that hold up and protect americans from the tax hike to take place in ten hours. ten hours from now. we can do this. we must do this. >> bret: it's not clear whether they can. it's not clear whether that is all of them believe they must. bring in the panel. jonah goldburg. kirsten powers if for daily beast. syndicated columnist charles krauthammer. begin with the president's statement today that happened mid-day. he framed it as ed henry said as campaign style event. middle class families behind him. didn't have a lot of details and has had the
going over the fiscal cliff. meanwhile, the president talked about it today. >> democrats and republicans in congress have to get this done. but they are not there yet. they are close. but they're not there yet. and one thing we can count on with respect to this congress is that if there is even one second left before you have to do what you are supposed to do, they will use that second. >> we will continue to work on finding smarter ways to cut spending but let's not let that hold...
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signs congress was taking major steps toward a fiscal cliff agreement. the dow closed near session highs, climbing 166 points the dow gained 7.3% for the year. now that sent the fear index or the vix into a tailspin. it nosedived 20% as fiscal cliff optimism swept over investors. it had been up almost 30% since july. today's dive is the vix's steepest fall since august 2011. and the fiscal cliff tug-of-war september gold prices p by about 20 bucks an ounce, settling at $1675 for the year. gold prices rose 7% but, that is their smallest yearly gain in four years. >>> we can't avoid it, the top story. fiscal cliff armageddon. no escaping it. the no escaping it. the country waits for action which could come tonight with a vote in the senate, but nothing, nothing has been scheduled and the house won't be able to act until later this week. joining me now is democratic congressman jason altmire from pennsylvania. sir, we appreciate you being here. i appreciate you will be leaving congress. you will not be able to vote on whatever is finally presented but i'm c
signs congress was taking major steps toward a fiscal cliff agreement. the dow closed near session highs, climbing 166 points the dow gained 7.3% for the year. now that sent the fear index or the vix into a tailspin. it nosedived 20% as fiscal cliff optimism swept over investors. it had been up almost 30% since july. today's dive is the vix's steepest fall since august 2011. and the fiscal cliff tug-of-war september gold prices p by about 20 bucks an ounce, settling at $1675 for the year. gold...
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the house stands >> fiscal cliff negotiations continue between congress and the white house. the house returns tomorrow at noon eastern. we will have coverage here on c- span. president obama spoke about the afternoon,ff this ev but in the agreement will not happen before tomorrow. his remarks are 10 minutes. >> happy new year to you. hello, everybody. thank you. please, everybody, have a seat. good afternoon, everybody. welcome to the white house. i realize that the last thing you want to hear on new year's eve is another speech from me. but i do need to talk about progress that is being made in congress today. for the last few days, leaders of both parties have been working on an agreement that will prevent the middle-class tax hikes hitting 90% of all americans starting tomorrow. preventing that tax hike has been my top priority. it is the last thing that folks like who are appear on this stage can afford right now, to pay an extra $2,000 in taxes. the middle class taxes cannot afford it -- middle-class families cannot afford it, and our economy cannot afford it. today it
the house stands >> fiscal cliff negotiations continue between congress and the white house. the house returns tomorrow at noon eastern. we will have coverage here on c- span. president obama spoke about the afternoon,ff this ev but in the agreement will not happen before tomorrow. his remarks are 10 minutes. >> happy new year to you. hello, everybody. thank you. please, everybody, have a seat. good afternoon, everybody. welcome to the white house. i realize that the last thing you...
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cliff. and after weeks of negotiations and public posturing, democrats and republicans have reached an agreement on tax rates in their negotiations. let me tell you what we know at this hour. the deal is said to raise $600 billion in revenue over the next decade through a series of tax increases on the wealthiest americans. th bush era tax rates would be text ended for all single americans with incomes below $400,000 and couples with income below 45000$450,000. all income above that would be tacked at 39 pittsburgh.6%. the deal is said to include a permanent fix for the alternative minimum tax and it extends unemployment insurance for another year for 2 million americans. this was huge for the democrats. speaking at the white house in front of a group of middle class americans just a few hours ago, the president urged congress to act immediately. >> for now our most immediate priority is to stop taxes going up for middle class families starting tomorrow. i think that is a modest goal that we
cliff. and after weeks of negotiations and public posturing, democrats and republicans have reached an agreement on tax rates in their negotiations. let me tell you what we know at this hour. the deal is said to raise $600 billion in revenue over the next decade through a series of tax increases on the wealthiest americans. th bush era tax rates would be text ended for all single americans with incomes below $400,000 and couples with income below 45000$450,000. all income above that would be...
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liz: the framework, the skelton, is set for a deal on the fiscal cliff but congress still has to vote on it before this goes into efence. -- effect, let's bring in our panel of congressman with expertise on this. mick mulvaney of south carolina, tim huelskamp kansas and dennis cue cues ohio. you've been leaving congress. you've been term-limited by voters. i know you're general in favor of what you would call a more fair tax system. the top 3%, everybody earning $250,000 or more, pay about 60% of all the federal income taxes that are paid. 3% say, 60%. how much more do you think they should pay before it is fair? >> well, the choices we've been given aren't the best choices, i will tell you that. we ought to be creating more taxpayers. we ought to be talking about jobs. david: i agree. bingo. >> how is it that we've avoided this discussion? all we're talking about is getting more money of people working right now. so, you know, there has to be some kind of a cuttoff about preserving the current tax cuts. i opposed the bush tax cuts because i thought most of the benefits were accelerat
liz: the framework, the skelton, is set for a deal on the fiscal cliff but congress still has to vote on it before this goes into efence. -- effect, let's bring in our panel of congressman with expertise on this. mick mulvaney of south carolina, tim huelskamp kansas and dennis cue cues ohio. you've been leaving congress. you've been term-limited by voters. i know you're general in favor of what you would call a more fair tax system. the top 3%, everybody earning $250,000 or more, pay about 60%...
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boehner is going to have a tougher 113th congress without a doubt, and with this fiscal cliff deal, they're going to take it and stretch it to the very end. >> angela, you think republicans are sweating then because a few weeks ago they sounded like they could frame president obama as the bad guy. >> president obama is not the bad guy. you could see this love fest at the press conference this afternoon. american people totally understand and are supporting overwhelmingly what the president has proposed. they want tax cuts for the 98%, not for the top 2%. we've been at a standstill with plan "b" which never was a plan "b" to begin with because we're sacrificing the greater good for such a small minority. >> jimmy and susan, i am going to ask you about the president's press conference and whether you thought it was a bad idea. but when angela was talking, susan, you were shaking your head when she said that the american people are behind the president. >> well, i think right now the american people are frustrated with washington, and that's where that's going to come down. yes, the president
boehner is going to have a tougher 113th congress without a doubt, and with this fiscal cliff deal, they're going to take it and stretch it to the very end. >> angela, you think republicans are sweating then because a few weeks ago they sounded like they could frame president obama as the bad guy. >> president obama is not the bad guy. you could see this love fest at the press conference this afternoon. american people totally understand and are supporting overwhelmingly what the...
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fiscal cliff. here's what both sides are considering in a potential deal right now. an increase in tax rates for families making over $450,000 a year. extending unemployment benefits. and an increase in the estate tax. the president seemed hopeful but cautious when he addressed the american people earlier today. >> today, it appears that an agreement to prevent this new year's tax hike is within sight. but it's not done. there are still issues left to resolve. but we're hopeful that congress can get it done. but it's not done. >> let's get straight to our chief white house correspondent jessi jessica yellin. she's over at the white house with the very latest. the president seems pretty optimistic that it's within a few hours we could have a deal, right? >> reporter: wolf, the people i just spoke to here say they are no more or less optimistic than they were this morning. which is to say they are not cueing the confetti just yet. senator mitch mcconnell, the republican leader on the hill, is still t
fiscal cliff. here's what both sides are considering in a potential deal right now. an increase in tax rates for families making over $450,000 a year. extending unemployment benefits. and an increase in the estate tax. the president seemed hopeful but cautious when he addressed the american people earlier today. >> today, it appears that an agreement to prevent this new year's tax hike is within sight. but it's not done. there are still issues left to resolve. but we're hopeful that...
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look at what congress actually did while they weren't working on the fiscal cliff. the senate confirmed two of the president's appointees and the house considered about a dozen bills including how to commemorate the 100th anniversary of the world war i and various aid and trade bills. here to give us an idea of what the congress is thinking is ed o'keefe. give us a run down. what has congress been working on and still need to do before this congress actually ends? >> it's kind of fascinating how these very modest measures that wouldn't get a vote gotten one because there's so much time on the clock still as they wait for the marquee legislative event of the year. there were changes to drywall standards. there was discussion there of the world war i commemoration which is coming up. two nominees confirmed over in the senate. two of obama's nominees. going back a few weeks, even just before christmas, there were some changes in policies at the tsa and screening baggage and judges confirmed and actually are some things that have gotten done but certainly not the big is
look at what congress actually did while they weren't working on the fiscal cliff. the senate confirmed two of the president's appointees and the house considered about a dozen bills including how to commemorate the 100th anniversary of the world war i and various aid and trade bills. here to give us an idea of what the congress is thinking is ed o'keefe. give us a run down. what has congress been working on and still need to do before this congress actually ends? >> it's kind of...
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. >> the fiscal cliff is the response to congress's inaction. that's the fact. the reason we're here is because we were unable to complete the business at hand. we postponed everything until the end of the year. the reason the tax cuts expire and the revenue provisions a part of that but also the spending cut that is are across the board in a haphazard way, that's congress's fault and where we are. i think the president's accurate in the way he described it. whether he should have articulated it, i leave that up to him but certainly the president has negotiated a deal that i believe will get the support of the majority of the house and the senate and i think we are going to get this done. >> how do you see this plays out as the clock ticks? is there enough time to get it done if it comes over to the house and if there's a delay or any kind of a hold-up or an objection, that's going to take us passed midnight. >> up to speaker boehner. assuming the senate is able to pass before they send it to the house then they'll walk it across the capital and if speaker boehn
. >> the fiscal cliff is the response to congress's inaction. that's the fact. the reason we're here is because we were unable to complete the business at hand. we postponed everything until the end of the year. the reason the tax cuts expire and the revenue provisions a part of that but also the spending cut that is are across the board in a haphazard way, that's congress's fault and where we are. i think the president's accurate in the way he described it. whether he should have...
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the world's watching to see if congress reaches a deal to avoid the fiscal cliff. and within the last hour, the president said a deal is, quote, within sight and that he himself is willing to make hard choices to avoid $600 billion in automatic spending cuts and tax hikes. >> i'm willing to reduce our government's medicare bills by finding new ways to reduce the costs of healtcare in this country. that's something we all should agree on. we want to make sure that medicare is there for future generations. but the current trajectory of health care costs is going up so high, we have got to find ways to make sure that it is sustainable. but, that kind of reform has to go hand and hand with doing some more work to reform our tax coat so that wealthy individuals, the biggest corporations, can't take advantage of loopholes and deductions that aren't available to most of the folks standing up here. aren't available to most americans. so there is still more work to be done in the tax code to make it fair, even as we're also looking at how we can strengthen something like me
the world's watching to see if congress reaches a deal to avoid the fiscal cliff. and within the last hour, the president said a deal is, quote, within sight and that he himself is willing to make hard choices to avoid $600 billion in automatic spending cuts and tax hikes. >> i'm willing to reduce our government's medicare bills by finding new ways to reduce the costs of healtcare in this country. that's something we all should agree on. we want to make sure that medicare is there for...
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we do have a new congress coming back in. we keep talking about the so-called fiscal cliff. there are consequences for inaction if that countdown clock gets to zero and there's no deal and no deal has been reached. >> jonathan, thank you. to your point, it's remarkable to me that what we're debating is exactly what we were debating six months ago. it's not as though something has happened recently. this is the debate we've been having or the debate we haven't been having making it all the more remarkable that we have a countdown clock for it. thank you. >> that's right. >> a deal on the fiscal cliff may be at hand, but there's still a lot to do, and not a lot of time to do it. delaware democratic senator chris kuhns. thank you for taking the time. i want to talk about something first that your colleague tom hashi harken said on the senate floor. let's come back and talk about it. >> it looks like all of the taxes will be made permanent, but all of the other things that the middle class and america really depends on. one year or two years at the most, but the tax system is ma
we do have a new congress coming back in. we keep talking about the so-called fiscal cliff. there are consequences for inaction if that countdown clock gets to zero and there's no deal and no deal has been reached. >> jonathan, thank you. to your point, it's remarkable to me that what we're debating is exactly what we were debating six months ago. it's not as though something has happened recently. this is the debate we've been having or the debate we haven't been having making it all the...
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so the fiscal cliff fallout to hit the middle class hard if congress doesn't act to fix the cliff now. economy is fausting huge risks from self-inflicted wounds. this is from the tax policy center, the codirector there. this is on top of the rate increases it is an $86 billion extra tax hitting squarely in the middle class. and we're hearing from h&r block. h&r block is saying your $1100 refund if you're a family makes 85,000 with two kids could turn into $1400 tax bill. that is warning already. whether or not they fix it. i heard mid-morning, this is the deal. they would permanently fix it. does that mean permanently index it to inflation? that is what we are looking for right now and what is happening. but separate from all that, we know obamacare taxes are also hitting january 1. ashley: yeah. >> we also have separate from that, 70 tax breaks expiring. things like sales tax deductions in certain states or tuition and fees for certain students. ashley: yeah. >> that is another thing they will have to deal with. states we have to watch out for what we're talking about the amt, califo
so the fiscal cliff fallout to hit the middle class hard if congress doesn't act to fix the cliff now. economy is fausting huge risks from self-inflicted wounds. this is from the tax policy center, the codirector there. this is on top of the rate increases it is an $86 billion extra tax hitting squarely in the middle class. and we're hearing from h&r block. h&r block is saying your $1100 refund if you're a family makes 85,000 with two kids could turn into $1400 tax bill. that is warning...
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cliff. we'll bring that live to you when it happens. sources are telling fox news that congress has figured out the tax part. the main bone of contention is at this point the spending. the white house wants new spending using tax hikes to prevent some of the severe budget cuts that also kick in in 11 hours from now. republicans argued that is just robbing pete tore pay paul. chief congressional correspondent mike emanuel is live at the capitol following all of the bouncing balls. hey, mike. >> reporter: one concern for republicans as they look at this deal is what about spending cuts? where are the spending cuts? it sounds like they are getting close in the talks between vice president joe biden and the senate republican leader mitch mcconnell but there is not a deal until senator mcconnell knows he has enough support. let's take a look at some of the key points of a framework of the deal according to sources close to the talks. it would raise taxes on income tax amounts above $400,000 for i
cliff. we'll bring that live to you when it happens. sources are telling fox news that congress has figured out the tax part. the main bone of contention is at this point the spending. the white house wants new spending using tax hikes to prevent some of the severe budget cuts that also kick in in 11 hours from now. republicans argued that is just robbing pete tore pay paul. chief congressional correspondent mike emanuel is live at the capitol following all of the bouncing balls. hey, mike....
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on the fiscal cliff. president obama is now scheduled to make a statement about the negotiations. that's going to take place about 1:30 or so, in less than 30 minutes. we'll bring it to you live at the white house as soon as it happens. we want to talk about what is going on behind the scenes. you have negotiations led by the vice president and senate minority leader mitch mcconnell. sources are telling us they are making some progress, but here's the catch. if a deal is reached, there is no guarantee it's going to pass. here's what democratic senator tom harkin said on the senate floor earlier this morning. >> if we're going to have some kind of a deal, the deal must be one that really does favor the middle class. the real middle class. those that are making 30,000, 50,000, 60,000, 70,000 a year. that's the real middle class in america. and as i see this thing developing, quite frankly, as i've said before, no deal is better than a bad deal, and this looks like a very bad deal the way it's he shaping up.
on the fiscal cliff. president obama is now scheduled to make a statement about the negotiations. that's going to take place about 1:30 or so, in less than 30 minutes. we'll bring it to you live at the white house as soon as it happens. we want to talk about what is going on behind the scenes. you have negotiations led by the vice president and senate minority leader mitch mcconnell. sources are telling us they are making some progress, but here's the catch. if a deal is reached, there is no...
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the fiscal cliff was put in place by members of congress through the super committee and there were not able to come up with a big budget deal to fix the problems, they said if we cannot come up with a deal, if we will have these automatic cuts police. they knew the tax cuts were expiring. there are no surprises here is there's only an inability of people to work together and make hard choices that must be made. host: as the story unfolded over the past 24 hours, the president weighing in on all this and the blame game back and forth between democrats and republicans. years when he said on nbc. [video clip] >> we have been talking to the republicans ever since the election was over. they have had trouble saying yes to a number of repeated offers. yesterday i had another meeting with the leadership. i suggested to them if they cannot do a comprehensive package of smart deficit reductions, let's at minimum make sure that people's taxes don't go up and that 2 million people lose their unemployment insurance. i was modestly optimistic yesterday, but we don't yet see an agreement. now the pr
the fiscal cliff was put in place by members of congress through the super committee and there were not able to come up with a big budget deal to fix the problems, they said if we cannot come up with a deal, if we will have these automatic cuts police. they knew the tax cuts were expiring. there are no surprises here is there's only an inability of people to work together and make hard choices that must be made. host: as the story unfolded over the past 24 hours, the president weighing in on...
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to let the country go over the fiscal cliff. would your party have more leverage if we went over the cliff? >> i think both leader pelosi and i said going over the cliff ought not to be an option. it will be an indication of failure of the congress to work as it should. this has been the least effective, most confrontational congress in which i have served. i came here in 1981. so i think going over the cliff is not our preferred choice at all. we think we need to get to a compromise, which as i said, will procollude taxes from going up on middle income americans, provide for the unemployment insurance. i they we also provide for the reimbursement of doctors giving services to medicare patients. butt fact of the matter is it's been very difficult to reach compromise. i think the president of the united states and is now through vice president biden trying to reach a compromise. a compromise by its very definition means that neither side gets exactly what it wants. the difficulty from the house of representatives last week the re
to let the country go over the fiscal cliff. would your party have more leverage if we went over the cliff? >> i think both leader pelosi and i said going over the cliff ought not to be an option. it will be an indication of failure of the congress to work as it should. this has been the least effective, most confrontational congress in which i have served. i came here in 1981. so i think going over the cliff is not our preferred choice at all. we think we need to get to a compromise,...
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the 100 of congress continued to spar with president obama and each other over the fiscal cliff. joining us from inside the beltway, peter barnes, rich edson standing by on capitol hill. all right. what are we waiting and? >> reporter: significant progress is what aides are telling us. they're working with the current framework right now. what it would do is protect income amounts of less than 400,000 for individuals, four under and 54 families, from a tax increase it includes extending current levels of the estate tax, preventing tens of millions of americans from having to pay the alternative minimum tax this year, ensuring that doctors who treat medicare patients don't get an automatic pay cut. long-term unemployment insurance. while lawmakers are discussing right now with the white house is how to deal with the sequester, those automatic spending cuts of 94 billion that are supposed to start next year. negotiations continue with senate minority leader mitch mcconnell leading the way for republicans, and a vice president discussing for democrats. we are starting to get some la
the 100 of congress continued to spar with president obama and each other over the fiscal cliff. joining us from inside the beltway, peter barnes, rich edson standing by on capitol hill. all right. what are we waiting and? >> reporter: significant progress is what aides are telling us. they're working with the current framework right now. what it would do is protect income amounts of less than 400,000 for individuals, four under and 54 families, from a tax increase it includes extending...
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numbers one and two this year are fiscal cliff and kick the can down the road. now, regardless of today's outcome is the damage already done for congress? whether they come up with a small deal or not here when it comes to the american people, they've already decided congress is useless. >> well, i think those of us who tried to function over the last couple years in congress have been saying that. we can't figure out who even the 10%, who support congress, are. we are totally dysfunctional right now and this is just probably the worst example of it. you know, i heard speaker boehner say a number of times that he doesn't believe in compromise and a lot of republicans say the same thing. they say let's find common ground and act on that. well, there just isn't much common ground. if, in fact, the numbers we're hearing about the senate deal, whether $450,000 threshold or $550,000, that is not a matter of principle. that's just a matter of policy and splitting hairs and differences of dollars. so i think unfortunately we've got a lot of people on the other side of
numbers one and two this year are fiscal cliff and kick the can down the road. now, regardless of today's outcome is the damage already done for congress? whether they come up with a small deal or not here when it comes to the american people, they've already decided congress is useless. >> well, i think those of us who tried to function over the last couple years in congress have been saying that. we can't figure out who even the 10%, who support congress, are. we are totally...
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while congress cannot seem to agree on a fiscal cliff fix, it looks like a deal has been reached to keep your milk prices from skyrocketing. both the house and senate agriculture committees have agreed to a one year extension on the farm bill which expired earlier this year. the extension must be passed by a full vote in congress before it can take effect. had a deal not been reached by tonight the government would have been forced to buy milk at inflated prices, raising the doss of milk and other dairy products for consumers could have been 8 bucks a gallon, believe it or not. heather: secretary of state hillary clinton is now hospitalized after doctors discovered a blood clot during a recent follow-up exam stemming from a concussion earlier this month. david lee miller is joining us live from our new york city newsroom with the very latest on her condition. >> reporter: officials have not released specific details about secretary clinton's glad clot. medical experts say the severe a steve the problem depends on the location of the clot. most risky are the rain. she is being treated by
while congress cannot seem to agree on a fiscal cliff fix, it looks like a deal has been reached to keep your milk prices from skyrocketing. both the house and senate agriculture committees have agreed to a one year extension on the farm bill which expired earlier this year. the extension must be passed by a full vote in congress before it can take effect. had a deal not been reached by tonight the government would have been forced to buy milk at inflated prices, raising the doss of milk and...